Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 8.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,702 shares of the company’s stock after selling 2,361 shares during the period. Hsbc Holdings PLC owned 0.09% of Grand Canyon Education worth $3,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of LOPE. Norges Bank acquired a new stake in shares of Grand Canyon Education in the fourth quarter valued at about $44,529,000. Goldman Sachs Group Inc. increased its position in Grand Canyon Education by 105.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 333,028 shares of the company’s stock worth $43,973,000 after purchasing an additional 170,956 shares during the last quarter. Acadian Asset Management LLC increased its position in Grand Canyon Education by 78.5% during the first quarter. Acadian Asset Management LLC now owns 308,357 shares of the company’s stock worth $41,977,000 after purchasing an additional 135,626 shares during the last quarter. Renaissance Technologies LLC increased its position in Grand Canyon Education by 41.0% during the second quarter. Renaissance Technologies LLC now owns 285,057 shares of the company’s stock worth $39,882,000 after purchasing an additional 82,855 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Grand Canyon Education by 89.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock worth $24,215,000 after purchasing an additional 81,853 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Price Performance

Shares of LOPE stock opened at $144.54 on Wednesday. The firm has a market cap of $4.30 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.16 and a beta of 0.69. The company has a 50-day moving average of $144.80 and a two-hundred day moving average of $140.32. Grand Canyon Education, Inc. has a 1-year low of $112.38 and a 1-year high of $157.53.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.17. The company had revenue of $227.50 million during the quarter, compared to analyst estimates of $223.56 million. Grand Canyon Education had a net margin of 21.88% and a return on equity of 31.49%. Grand Canyon Education’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Sell-side analysts anticipate that Grand Canyon Education, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the completion of the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LOPE. Barrington Research restated an “outperform” rating and set a $165.00 price objective on shares of Grand Canyon Education in a research report on Friday, September 20th. BMO Capital Markets raised their price objective on shares of Grand Canyon Education from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.